Clouds Part For First Solar, Avian Chimes In On Solar Stocks (FSLR, JKS, STP, SPWRA, YGE, CSIQ, HSOL, JASO, SOL, TSL)

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SOLAR INVESTING IDEAS

• Popular long ideas: FSLR, STP, LDK
• Popular short ideas: FSLR, JASO, STP
• Top dividend plays: None
• Pro favorites: WFR, GTAT, EMKR

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SOLAR COVERAGE

Companies focused on Solar energy generation and technology

• Small Solar Companies May Experience Hard Landing (SOLR, AMAT, FSLR, SPWRA, JKS, YGE)
• Goldman: First Solar A Better Bet Than SunPower (FSLR, SPWRA, JKS, SOL, YGE, TSL)
• Plenty Of Analyst Chatter On Solar Stocks, Most Of It Negative (TSL, LDK, HSOL, CSIQ, JASO, WFR)

SOLAR CHART

SOLAR METRICS

Avg. Market Cap:	$583.8M
Avg. P/E Ratio:	11.6
Avg. Div Yield:	0.0%

Shares of First Solar (FSLR), the largest U.S. solar company, are surging 8% on volume that is already more than double the daily average following news the company won conditional loan guarantees for three solar projects. The news prompted Credit Suisse to raise its price target on First Solar to $135 from $100, while saying the stock could overshoot to the $140-$150 area.

The news appears to agree with solar investors as the Solar Stocks Index is up 2.6% on the day. Credit Suisse also boosted its 2011 EPS estimate on First Solar to $9.68 from $9, its 2012 EPS estimate to $14.03 from $9.92, its 2013 EPS estimate to $12.62 from $8 and its 2014 EPS estimate to $9.29 from $3.70.

Avian got in on the act, initiating coverage of First Solar with a $160 price target, which offers decent upside from where the shares currently trade, even after today’s surge. JinkoSolar Holding (JKS) is soaring 3% after Avian put a $43 price target on that name, which is well above where the stock currently trades.

The research firm is less enthusiastic about Suntech Power Holdings Co (STP), SunPower (SPWRA) and Yingli Green Energy Hldng (YGE), initiating coverage of those names with negatives and price targets of $6.50, $8 and $10, respectively.

Avian is neutral on Canadian Solar (CSIQ), Hanwha SolarOne (HSOL), JA Solar Holdings (JASO), ReneSola (SOL) and Trina Solar (TSL).

Investors can track the Solar Stocks Index for performance trends and a suite of other metrics at tickerspy.com.

Tags: CSIQ, FSLR, HSOL, JASO, JKS, SOL, SPWRA, STP, TSL, YGE